Gujarat State Petronet (GSPL) rallied 4.09% to Rs 297.50 after the company's consolidated net profit jumped 16% to Rs 577.51 crore on 19.5% surge in net sales to Rs 3766.95 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 28.7% to Rs 770.39 crore in Q4 FY21 as against Rs 598.43 crore in Q4 FY20. The Q4 earnings was declared after trading hours yesterday, 3 June 2021.Volumes in Gujarat State Petronet (GSPL) slipped 7.99% to 33.84 million metric standard cubic meter per day (MMSCMD) in Q4 FY21 over 36.78 MMSCMD in Q4 FY20. Sequentially, Volumes skid 14.02% in Q4 FY21 from 39.36 MMSCMD in Q3 FY21.
The board recommended the dividend of Rs 2 per equity share for the FY 2020-21.
Meanwhile, the board of GSPL also approved the transfer of city gas distribution business for Amritsar and Bhatinda Geographical Area (CGD business) of the company as a going concern, on slump sale basis, to Gujarat Gas (GGL) for an aggregate cash consideration of Rs 163.31 crore, without values being assigned to individual assets and liabilities by way of business transfer agreement (BTA). The BTA for transfer of CGD business is expected to be executed within a period of 45 to 60 days.
Gujarat State Petronet is a natural gas infrastructure and transmission company engaged in gas transportation business.
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